Nelson Peltz Joins Mondelez Board
Mondelez International has added Nelson Peltz, chief executive and a founding partner of investment group Trian Fund Management, to its board of directors. With the addition of Nelson Peltz, the Mondelez International board expands to twelve members.
“We believe that Nelson will be a valuable addition to our board,” says Irene Rosenfeld, chairman and chief executive of Mondelez International. “We respect his more than 40 years of business and investment experience as well as his expertise helping consumer products companies leverage their brands and improve operating and financial performance. We welcome his input as we deliver superior shareholder returns.”
Nelson Peltz.
“As one of the company’s largest shareholders, with a current beneficial ownership of more than 46 million shares, Trian has long seen enormous opportunities in the company’s portfolio of strong global brands,” says Nelson Peltz. “Irene Rosenfeld is a CEO who has created substantial value for shareholders over the course of her career. I look forward to working closely and constructively with Irene, the board and management team toward our shared goals of driving growth, improving margins and increasing value for all shareholders.”
Nelson Peltz founded Trian in 2005 with Peter May and Ed Garden. From 1993 to 2007, he served as chairman and chief executive of Triarc Companies, which then owned the Snapple Beverage Group, which was sold to Cadbury Schweppes, and Arby’s Restaurant Group, which was sold to a private equity firm, as well as other consumer and industrial businesses. From 1983 until 1988, Peltz was chairman and chief executive of Triangle Industries, which was a Fortune 100 Industrial Company following the acquisition of American Can Company’s packaging business and the formation of American National Can Company until Triangle was acquired by Pechiney.
Nelson Peltz currently serves as non-executive chairman of The Wendy’s Company, the second-largest quick service restaurant company in the United States. He also serves as a director of Legg Mason, an asset management firm, and chair of its Nominating and Corporate Governance Committee. In addition, Peltz is on the board of directors of Ingersoll-Rand, a global diversified industrial company. He previously served as a director of HJ Heinz Company, a global packaged food manufacturer, until it was sold to Berkshire Hathaway and 3G Capital.
